Default fears loom over Country Garden
The Chinese developer reportedly missed a final deadline to repay $15.4 million in interest
Embattled Chinese property developer Country Garden reportedly missed an interest payment on a dollar bond, adding risks to China’s struggling property sector and slowing economy.
The developer failed to make a $15.4 million coupon repayment due on October 18, when a 30-day grace period for repayment expired, according to media reports.
Unnamed creditors said they had not received payment after the final deadline passed.
Country Garden has so far remained silent on whether it had made the
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